The Transition to Knowledge Capitalism
This chapter looks into how the rise of knowledge capital affects globalized competition, the changes in employment arrangements, the restructuring of firms and its ownership, and the falling demand for commodities and low knowledge-intensive products. Despite the upsurge of information in the media, society is still left eager for knowledge because of the lack of understanding of the notion of a knowledge-based economy and its implications on globalization, corporate restructuring, employment, and the like. Despite the efforts of government and corporate strategies to facilitate the understanding of this knowledge-based economy, this is hard to achieve without establishing the economic value of knowledge. This chapter presents the changes that have resulted from the shifting demands of firms for different skills and resources and explains the attempts that the government has made for these transitions.
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